SLI closes onshore Unconstrained EM fund after major investor withdraws

Will close on 14 January

Standard Life Investments(SLI) is to close its £21.9m Global Emerging Markets Equity Unconstrained OEIC, following the withdrawal of a significant investor.

Matthew Williams' fund will be closed on 14 January 2016, after the group decided it is now considered too small to be commercially viable. The group said the size of the fund - which was launched in October last year - will also prevent it from investing in certain assets that might provide better investment performance, while still continuing to hold a diversified range of assets. However, the $101m Global Emerging Markets Equity Unconstrained SICAV, on which the OEIC was modelled, continues to operate as usual. A spokesperson for SLI said: "We believe there continue to be long-t...